Kyosho bought by Japanese investment bank

Japanese business website nikkei.com has reported that long-established manufacturer Kyosho has recently been bought by the Shinsei investment bank. It is understood that the move also means greater internal restructures over at Kyosho, as the company ran into financial difficulties following decreasing domestic sales. Former Kyosho president Akihisa Suzuki is understood to have retired, but will stay on in an advisory role, with Katsumi Watanabe now taking over at the helm. We will bring you more information on the subject as it becomes available.

Source: Nikkei [nikkei.com] via Kentech